Weighing in on the Value of Your Home

Does this find you wondering whether buying or selling a home based on a per square foot price is still a thing?

According to Dana Bieff, a licensed realtor with Compass Real Estate, it is still a thing… just not the only or most important thing, “unless you are buying in an apartment building or in a neighborhood of like homes or perhaps building a new home.”

Even when two properties are nearly identical, the dollar per square foot may be affected by a home’s (possibly amazing) view or the presence of road noise. Bieff says you also need to consider whether the property is sloping or flat, or if the home has a particular appeal. So, looking at the whole picture, dollar per square foot is only one of several factors she uses to evaluate a property.

To price a home, Bieff starts by touring it. She then compares it to other similarly styled homes: looking at architecturally comparable homes (i.e., Colonials entering the market vs. Colonials recently sold). The number of bedrooms, bathrooms, lot size, and, yes, dollar per square foot are noted too. She looks for similarities and considers the year the home was built, its amenities and condition— fresh and new, or old and tired. She assesses its unique assets and assigns value for things such as natural light, views, privacy, and if it exudes warmth and comfort

Then, Bieff enthuses, “The magic happens,” with her practical solutions to make the home more appealing to buyers. This often includes decluttering, cleaning, painting, opening window treatments to allow natural light, rearranging furniture, staging and even landscaping. She is also able to offer Compass Concierge, a service to help make improvements financially possible for sellers. That combined with marketing tailored to accurately portray the property to pull in the right buyers and to make a good match consistent with sellers’ goals comes next.

Rather than focusing on dollar per square foot, it is preparing the home and marketing it correctly that will increase the potential to sell for a higher dollar per square foot number.

Learn more about pricing and selling your home by reaching out to Dana Bieff at Compass Real Estate: 914-912-6004 or email dana.bieff@compass.com; danabieff.com